Zydus chief is new German Remedies chairman

mumbai: the board of pharma major german remedies ltd was reconstituted on wednesday with zydus cadila healthcare ltd chief ramanbhai patel elected as its chairman. the recast comes in pursuant to recon health ltd, a wholly-owned subsidiary of zydus, in compliance with acquisitions and takeover regulations of the securities and exchange board of india, zydus cadila said in a release here.the company, through recon had acquired a combined 27.72 per cent controlling stake from asta medica ag and heller vermongensverwaltungs gmbh in german remedies ltd, it said, adding the group was in process of acquiring 20 per cent stake through an open offer which closed on august 16, 2001. the other members appointed to the board are h.k. bilpodiwala, pankaj patel, ganesh nayak, mukesh patel, h. dhanrajgir, k. leimkuehler and c. ruger, the release said. among the existing directors, k. knoll, m.g. sheth, h.n. sethna, t.h. anik, h.c. asher and s.r. balsekar have resigned, the company said in a notice to the bombay stock exchange.